Use Graphical Methods to Solve the Linear Programming Problem

question 5

Multiple Choice

Use graphical methods to solve the linear programming problem.
-Minimize z = 2x + 4y subject to:
x + 2y ≥ 10
3x + y ≥ 10
x ≥ 0
Y ≥ 0

• A)Minimum of 0 when x = 0 and y = 0
• B)Minimum of 20 when x = 10 and y = 0
• C)Minimum of 20 when x = 2 and y = 4
• D)Minimum of 20 when x = 2 and y = 4,as well as when x = 10 and y = 0,and all points in between

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Definitions:

Marginal Cost

The financial burden of producing a further unit of a product or service.

Average Cost Pricing

A pricing strategy where the price is set based on the average cost per unit produced, including fixed and variable costs.

Profit-Maximizing

The process of increasing financial gain to the highest possible level given the constraints of the market.

Economic Profit

The difference between a firm's total revenue and its opportunity costs, including both explicit and implicit costs.